SMU Steel Buyers Sentiment Index Posts Strong Gains

Earlier this week Steel Market Update (SMU) began canvassing the flat rolled steel markets in order to better appreciate how buyers and sellers of steel are viewing their company’s ability to be successful in the market today (Current) as well as out three to six months (Future). Their responses result in the publication of the SMU Steel Buyers Sentiment Index.

This week we saw our Current Sentiment Index improve by +1 over the middle of February and is +15 points higher (more optimistic) than what we recorded during the first week of January of this year. We also looked at our Current Sentiment Index from a three month moving average (3MMA) viewpoint as the 3MMA smoothes out any bumps in the data. Our 3MMA on Current Sentiment rose +4.17 points and is now at +53.17. An explanation of the index “points” system is at the end of this article.